TVS Motor Q4 preview: Analysts expect 47% jump in profit; check key factors

TVS Motor Company Q4 results preview: Automobile major TVS Motor Company is slated to announce its financial results for the fourth quarter of the financial year 2024-25 (FY25) on Monday, April 28, 2025.  Analysts expect strong revenue growth, driven by solid volume gains, a favorable product mix, and effective cost management.

TVS Motor Company Q4FY25: Profit expectations

Brokerages tracked by Business Standard estimate TVS Motor's adjusted profit after tax (PAT) at ₹713.17 crore, on average, implying a rise of 47 per cent year-on-year (Y-o-Y), compared to ₹485 crore a year ago.

 

The company's revenue, on average, for the fourth quarter ended March 31, 2024, is anticipated to be ₹9,294.97 crore, compared to ₹8,169 crore a year ago, translating to a rise of 13.78 per cent Y-o-Y.

 

Make smarter market moves with The Smart Investor. Daily insights on buzzing stocks and actionable information to guide your investment decisions delivered to your inbox.

Subscribe

 

The company's Earnings before interest, taxes, depreciation, and amortisation (Ebitda), on average, for Q4FY25 is expected to come at ₹1,152.32 crore, compared to ₹926 crore a year ago, representing a rise of 24.44 per cent Y-o-Y.  ALSO READ | Maruti Suzuki Q4 preview: What analysts expect on revenue, PAT, guidance?

TVS Motor Company Q4FY25: Key things to watch

The key focus during TVS Motor Company's Q4FY25 results, analysts believe, will be the e-mobility initiatives and demand outlook.

Here’s what brokerages are expecting in Q4 from TVS Motor Company:

Axis Securities: Analysts at Axis Securities expect revenues to increase by around 15 per cent Y-o-Y, led by a 15 per cent Y-o-Y increase in volumes, with a richer domestic vehicle mix partly offset by higher export volumes (exports being of lower cc models). Ebitda margins are expected to increase by 77 bps Y-o-Y (up 22 bps Q-o-Q), led by higher operating leverage and cost control efforts, partly offset by a margin-dilutive mix of EV scooters.

 

They forecast revenue at ₹9,351 crore in Q4-FY25, a 14.5 per cent increase Y-o-Y, with Ebitda at ₹1,132 crore (up 22.2 per cent Y-o-Y) and PAT at ₹716 crore (up 47.6 per cent Y-o-Y).

 

They expect the company to accrue full-year PLI income in Q4FY25, which may have upside risks to their estimates.

 

Nuvama: Analysts at Nuvama expect that the volume growth will support revenue growth Y-o-Y for TVS Motor. Ebitda margin is expected to expand on higher gross margin due to the receipt of PLI incentives, a favorable regional mix, and benign currency. The key focus, analysts believe, will be the e-mobility initiatives and demand outlook.

 

They forecast the company to report a 15 per cent Y-o-Y increase in its revenue to ₹9,406.2 crore. Ebitda is expected to rise 35 per cent Y-o-Y to ₹1,248 crore, and PAT is expected to rise 59 per cent Y-o-Y to ₹774 crore.  ALSO READ | Tech Mahindra Q4 results: check date, time, expectations, dividend

 

Motilal Oswal Financial Services (MOFSL): Brokerage firm MOFSL expects TVS Motor's Ebitda margin to expand by 70 bps Y-o-Y to 12 per cent, led by a favorable product mix and cost control. "We have not factored any PLI benefits into our numbers yet, as we await clarity from the management on the same," said the brokerage in a note. TVS continued to outperform its 2W peers, posting 14 per cent Y-o-Y growth in the segment in Q4FY25, led by strong growth in the scooter segment. Overall, volume growth stood at 15 per cent Y-o-Y. The brokerage expects TVS Motor to post 13 per cent Y-o-Y revenue growth at ₹9,202.2 crore, and 12 per cent Y-o-Y growth in its Ebitda at ₹1,104.4 crore.

 

Overall, MOFSL expects TVS Motor to post 39 per cent Y-o-Y growth in earnings (PAT) in Q4FY25, at ₹675.3 crore.

 

Elara Capital: Analysts at Elara Capital expect TVS Motor's PAT to rise 41.6 per cent Y-o-Y to ₹687.4 crore, and its revenue to rise by 12.9 per cent Y-o-Y to ₹9,220.5 crore in Q4FY25. They forecast a 21.5 per cent Y-o-Y growth in TVS Motor's Ebitda to ₹1,124.9 crore in Q4FY25.